Lower Rate definition

Lower Rate. As defined in the definition of Minimum Defaulted Monthly Payment.
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Lower Rate means a rate of interest which is 2% per annum below the rate of interest that we used for the purpose of calculating the instalment amounts due under this loan.
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Lower Rate means the number of weeks indicated in Staff Regulation 301.16 as payable to a staff member with neither a spouse nor dependent child at the time of separation; "higher rate" shall mean the number of weeks indicated therein as payable to a staff member with a spouse or dependent child at the time of separation.
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Examples of Lower Rate in a sentence

  • Final Order MichCon Rate Case(U-15985) Filed MichCon Rate Case(U-16400) Filed Detroit Edison Case with Alternatives to Lower Rate Request(U-16472) Withdrew MichCon Rate Case(U-16400) Constructive rate orders during first half of 2010 at both utilities June July Oct.

  • Liquidity Ratio as of the end of a month and Event of Default status Interest Rate Greater than or equal to 1.50:1.00, and no Event of Default has occurred and is continuing 6.25% (the “Lower Rate”) Less than 1.50:1:00, or an Event of Default has occurred and is continuing 9.00% (the “Higher Rate”) The initial interest rate in effect as of March 1, 2011 shall be the Lower Rate.

  • Final Order MichCon Rate Case (U-15985) Filed MichCon Rate Case (U-16400) Filed Detroit Edison Case with Alternatives to Lower Rate Request (U-16472) Withdrew MichCon Rate Case (U-16400) Constructive rate orders during first half of 2010 at both utilities June July Oct.


More Definitions of Lower Rate

Lower Rate means the rate per annum set out in Item 5 of Schedule 1 (Key Details).
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Lower Rate shall have the meaning given in Section 9.3(a)(i).
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Lower Rate for each Interest Period means the aggregate of the applicable BBSY Rate and the Margin.
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Lower Rate means 8% per annum; 3.4.3 "Interest payment date" means the date that the installments referred to in clause 2.1 are due and payable.
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Lower Rate. – means the lower rate of interest charged or chargeable by the Bank under this Mortgage or an Agreement and in the absence of such rate, the Lower Rate shall be as reasonably determined by the Bank from time to time having regard to the Bank’s Legitimate Interests and in any event shall be less than the Higher Rate.
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Related to Lower Rate

  • Reference Rate means the rate specified as such hereon.

  • Federal Funds Rate means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.